Analysis of the Responsiveness of Non-Oil Exports to Fiscal and Monetary Policy Actions
Journal Title: Academic Journal of Economic Studies - Year 2017, Vol 3, Issue 3
Abstract
The paper aims to examine the responsiveness of non-oil exports to monetary and fiscal policy actions and to ascertain if there is any significant difference in the response of non-oil exports to fiscal and monetary policy actions. Adopting the partial determination model, the paper found that there is monetary-fiscal policy interaction effect in the short-run but the effect became undefined in the long-run. It was also revealed that the response of non-oil exports is dominated by fiscal policy actions than the response to monetary policy. Monetary policy influences are temporary whereas the fiscal policy effect seems permanent. In this regard, it will be more appropriate to place greater reliance on fiscal policy form of stabilization action. The adoption of mixed monetary-fiscal policy is also recommended. This is because, mixed monetary-fiscal policy actions operates more quickly and expand non-oil exports within a short while. Though, the interaction effect is undefined in the long run, it is appropriate to stimulate non-oil export in the short-run.
Authors and Affiliations
Richardson Kojo Edeme, Clifford Nworah Obiayo
Keywords
Related Articles
- EP ID EP217677
- DOI -
- Views 126
- Downloads 0
The Actual Balance of Power in Asia-Pacific: Determinants, Characteristics and New Trends
The present paper is structured around the following research objectives: (1) identification of the main characteristics of Asia-Pacific relations, strategic partnerships and regional rivalries; (2) justification of the...
Revisiting Exchange Rate Pass-Through to Consumer Price Inflation in Nigeria: A Cointegrated Vector Autoregressive Approach
This study revisits the extent of Exchange Rate Pass-Through (ERPT) in Nigeria based on a Cointegrated Autoregressive Model proposed by Johansen (1988, 1995). Using the annual data from 1960 to 2015, it is found that exc...
The Forensic Accountants' Skills and Ethics on Fraud Prevention in the Nigerian Public Sector
The study investigates the required skills and ethics of the forensic accountant in preventing fraudulent practices in the Nigerian public sector. The primary source of data was utilized for data collection. Using the si...
Public Debt Spiral and Domestic Investment in Nigeria
The nature of Nigeria economy is such that borrowing has become the business of every government in power. Most often, in order to finance the deficit in the budget, the government would resolve to borrowing. However, th...
Market Orientation and Business Performance: a Study of Interrelationships and Effects in a Small sized Hotels within Lagos State Metropolis
The relationship between market orientation and business performance has been a subject of debate in marketing literature. To date, there is no consensus opinion and empirical study in the context of small sized-hotels i...